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SPARTANBURG, S.C.— RedSail Technologies, a leading provider of pharmacy technology and solutions, has launched RxCash+. This offering is designed to help pharmacies better manage changing market prices for their cash-paying patients. On average, 12-17% of prescriptions filled by pharmacies are paid for in cash, and RxCash+ leverages customizable, data-driven pricing algorithms using AI to provide pharmacies with suggested cash prices.
By directly providing pharmacies with a data-based price for each cash prescription, RxCash+ reduces middlemen and puts pharmacies in the driver’s seat in offering fair, market-competitive pricing. The program more intuitively addresses market fluctuations that can result in a significant burden on pharmacy staff manually managing this subset of their business; it also brings copay assistance opportunities to cash-paying customers.
RxCash+ provides pharmacies and patients with numerous advantages, including:
· Suggested cash pricing aligned with the pharmacy’s location(s) and patient market.
· Enhanced pricing transparency and reporting for single or multi-store locations via live dashboards.
· Access to a dedicated clinical pharmacist coach to foster program and customer success.
· Comprehensive claim validation, including identifying applicable rebates, which are shared with the pharmacies, and applicable copay assistance programs, which support prescription affordability for patients.
· Performance metrics empowering pharmacies with visibility into market fluctuations affecting cash prices, patient savings, rebates, and margin goals.
Cara Schlie, Sr. Vice President, Commercial Operations at RedSail, said, “Our mission is to elevate the role of pharmacy and the health of our communities by designing and launching solutions for our customers that enable clinical advancement and financial sustainability. RxCash+ is a comprehensive solution that addresses the emerging challenges from increasing cash transactions, assisting pharmacies in achieving financial stability while caring for their cash-paying patients. By providing pharmacies with the necessary tools, technology, and clinical experts, RxCash+ has the potential to help pharmacies save significant time, provide broader price visibility and consistency across multiple locations, achieve a notable ROI, and deliver a positive experience for their patients.”
